Traffic Signal Controller Market Trends

Traffic Signal Controller Market Overview

Traffic Signal Controller Market Size was valued at USD 4.2 Billion in 2022. The Traffic Signal Controller market industry is projected to grow from USD 4.7 Billion in 2023 to USD 11.6 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 11.90% during the forecast period (2023 - 2032). Urban traffic congestion brought on by rapid urbanisation and more government efforts to implement traffic control systems are the key market drivers enhancing the market growth.

Product Type: Secondary Research, Primary Research, MRFR Database and Analyst Review

Traffic Signal Controller Market Trends

• 
  

  Rapid urbanization coupled with urban traffic congestion is driving the market growth

  
  

Many governments are implementing solutions and projects for smart cities and traffic management systems to provide smart services in response to the growing urban traffic congestion through their rules. As an illustration, the Indian government unveiled ITMS in Delhi in 2019. Furthermore, the Delhi Police has implemented the Al initiative known as the Intelligence Traffic Management System (ITMS). It has utilised a gantry-mounted radar-based system to identify over-speeding and a 3D radar-based Red-Light Violation Detection Camera (RLVD) system at 24 crossroads throughout Delhi to monitor red-light violations. In addition, this system features sophisticated controllers, Google Maps, and high-resolution cameras with sensor-based real-time traffic volume count technologies. A wise development of their economies is another goal of the governments of growing countries like Dubai, Singapore, China, India, South Korea, and Japan. In the upcoming years, the market for traffic signal controllers is anticipated to develop as a result of such activities.

Numerous governments are implementing programmes like smart cities and traffic management systems in response to the growing metropolitan traffic congestion. As an illustration, the Indian government unveiled ITMS in Delhi in 2019. The Delhi Police has implemented the Al initiative known as the Intelligence Traffic Management System (ITMS). In this system, the Delhi Police will deploy a gantry-mounted radar-based system to identify overspeeding in addition to a 3D radar-based Red-Light Violation Detection Camera (RLVD) system at 24 junctions throughout Delhi to monitor red-light violations.

The Georgia Navigator is a fantastic additional endeavour. Georgia, a state in the United States, uses this advanced traffic management system. Instead of using point detectors, Georgia Navigator gathers data on traffic flow using video detection cameras. Buried optical fibre that is connected to Atlanta's Transportation Management Centre (TMC) connects all of the devices together. These activities are anticipated to fuel market expansion.

The focus on environmentally friendly transportation in developed economies has given rise to innovations like autonomous automobiles, linked vehicles, and electric vehicles. These vehicles function by acquiring information from their environment, exchanging it with other vehicles, connecting to the smart transportation infrastructure, and providing access to real-time traffic data to transportation authorities for improved road management and infrastructure development.

Additionally, these technologies require infrastructure support to operate properly. The businesses operating camera-based traffic surveillance systems actively contribute significantly to the market's expansion. For instance, the Autonomous Distributed Signal Control (ARTEMIS) adaptive road Traffic Control Systems from Kyosan Electric reduces CO2 and nitrous oxide emissions while easing traffic congestion. Currently, the usage of a new technology-based product called ARTEMIS has overcome this obstacle by using the road TSC itself with access to real-time traffic updates at each signal intersection. The time-based traditional controller uses traffic data obtained via active car sensor. Smart traffic controllers therefore help to preserve the environment by decreasing pollution brought on by pointless stops and a long queue of vehicles backed up by traffic in cities, in addition to ensuring that traffic moves in an orderly manner and lowering the incidence of accidents. The expanding requirement for time-saving traffic management solutions, the encouragement of the development and promotion of green fuel, and the surge in connectivity solutions demand are to blame for the increased demand for traffic signal controllers globally. Thus, driving the Traffic Signal Controller market revenue.

Traffic Signal Controller Market Segment Insights

Traffic Signal Controller Product Type Insights

The Traffic Signal Controller Market segmentation, based on product type, includes standard controller and smart controller. Standard controller segment accounted for the largest revenue share in 2022. This is because demand for connected and autonomous vehicles is rising. However, due to the high price of a smart controller, the regular controller market will experience considerable demand.

Traffic Signal Controller Application Insights

The Traffic Signal Controller Market segmentation, based on application, includes urban and suburbs. Urban segment dominated the Traffic Signal Controller Market in 2022. This is due to a number of things, including the expanding urban population and their increasing need for transportation. Customer preferences for connected and autonomous vehicles are influenced by their low running costs. The demand for electric linked and autonomous passenger cars is predicted to increase due to the growing concern about the rising environmental pollution caused by the propulsion of IC engine vehicles in industrialised countries of Europe and North America.

Rapid urbanisation, higher living standards, and a rise in the number of wealthy people have all increased consumer buying power, which in turn led to an increase in vehicle sales and traffic congestion at important intersections. Additionally, there is an increasing need for these controllers in the suburbs due to worries about traffic control and road safety there. As a result, the suburbs category is anticipated to expand significantly throughout the course of the projected period.

Figure 1: Traffic Signal Controller Market, by Application, 2022 & 2032 (USD Billion)

Product Type: Secondary Research, Primary Research, MRFR Database and Analyst Review

Traffic Signal Controller Regional Insights

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Traffic Signal Controller Market dominated this market in 2022 (45.80%). Due to the presence of numerous top manufacturers there, the area is anticipated to dominate the global market. Additionally, the market in the region is anticipated to grow in the next years due to the growing popularity of connected EVs. The existence of established infrastructure and technology behemoths is also credited with the market's growth. Further, the U.S. Traffic Signal Controller market held the largest market share, and the Canada Traffic Signal Controller market was the fastest growing market in the North America region.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Traffic Signal Controller Market Share By Region 2022 (Usd Billion)

Product Type: Secondary Research, Primary Research, MRFR Database and Analyst Review

Europe Traffic Signal Controller market accounted for the healthy market share in 2022. Due to the presence of significant vehicle manufacturers here, Germany leads this geographical market. Additionally, the government's stringent rules on traffic safety and growing support for automation and AI will accelerate the growth of the global industry. Further, the German Traffic Signal Controller market held the largest market share, and the U.K Traffic Signal Controller market was the fastest growing market in the European region

The Asia Pacific Traffic Signal Controller market is expected to register significant growth from 2023 to 2032. The rapid population growth in this region is a result of China and India accounting for more than 38% of the world's population. According to the International Organisation of Motor Vehicle Manufacturers (OICA), the Asia Pacific region's yearly automobile output has increased significantly over the years as a result of rising consumer demand and the inclusion of upscale amenities in vehicles. The market is anticipated to grow as a result of a number of government measures in the car industry to recover from COVID-19's consequences. Furthermore, there is interest in connected and autonomous vehicles in the region; strong urbanisation and smart cities are anticipated to drive market expansion. Moreover, China’s Traffic Signal Controller market held the largest market share, and the Indian Traffic Signal Controller market was the fastest growing market in the Asia-Pacific region.

Traffic Signal Controller Key Market Players & Competitive Insights

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Traffic Signal Controller market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Traffic Signal Controller industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Traffic Signal Controller industry to benefit clients and increase the market sector. In recent years, the Traffic Signal Controller industry has offered some of the most significant advantages to medicine. Major players in the Traffic Signal Controller market, including Aldridge Traffic Controllers, Traffic Technologies Pty Ltd, Siemens AG, Johnson Controllers, Econolite, Sumitomo Electric Mfg Co, Dynamic Traffic Systems, Sena Traffic Systems, Kyosan Electric Mfg Co Ltd, PPK Technology Sdn. Bhd, and Indra Sistemas, S.A., are attempting to increase market demand by investing in research and development operations.

In the Sydney suburb of Rydalmere in NSW Australia, there are engineering and manufacturing facilities for the Australian-owned business Aldridge Traffic Controllers Pty Ltd (ATC). Victoria and Queensland also host offices and servicing facilities for ATC. Aldridge Traffic Controller (ATC) unveiled Remote Access Management System (RAMS), its flagship project, in May 2021. The Logic Processor Module of the controller is configured with RAMS software. The controller can now be remotely accessed by maintenance personnel using a web browser on a nearby PC, laptop, or tablet. Through a secure, password-protected IP address, the Traffic Controllers is connected to the RAMS web interface. Once connected, maintenance staff can start the fault retrieval process to determine what needs to be fixed and even start fixing things remotely.

Electric wires and cables, as well as other items, are manufactured and sold by Sumitomo Electric Industries Ltd. The company's five business segments—automotive, infocommunications, electronics, environment and energy, and industrial materials and others—engage in a variety of commercial operations that serve both industry and people's daily lives. Wire harnesses, rubber cushions, automotive hoses, and other items are available in the area devoted to autos. Fiber-optic cables, electrical cables and equipment for use in communications, optical communications-related parts, and other items are available from Sumitomo's information communications section. The majority of its income comes from Japan. Genius Traffic System Co., Ltd. Bangkok, Thailand placed orders with Sumitomo Electric Industries Ltd. in December 2020 for traffic signal control systems and software designed for the traffic systems in Bangkok. The system is set up to go into service in January 2022.

Key Companies in the Traffic Signal Controller market include

• Aldridge Traffic Controllers


• Traffic Technologies Pty Ltd


• Siemens AG


• Johnson Controllers


• Econolite


• Sumitomo Electric Mfg Co


• Dynamic Traffic Systems


• Sena Traffic Systems


• Kyosan Electric Mfg Co Ltd


• PPK Technology Sdn. Bhd


• Indra Sistemas, S.A.

Traffic Signal Controller Industry Developments

September 2020: The strategic cooperation between Siemens AG and Atos, a world authority on digital transformation, was extended as of 2016.

April 2022: A deal was struck by Traffic Technologies Ltd (TTL) to deliver hardware and software technologies to Qatar in order to improve the effectiveness and dependability of traffic control during the FIFA World Cup Qatar 2022.

Traffic Signal Controller Market Segmentation

Traffic Signal Controller Product Type Outlook

• Standard Controller


• Smart Controller

Traffic Signal Controller Application Outlook

• Urban


• Suburbs

Traffic Signal Controller Regional Outlook

• North America
  
  
  
  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Australia
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East
  
  
  • Africa
  
  
  • Latin America